Raveendran’s letter to employees
In a letter to his employees, Raveendran acknowledged the “turbulent times” that Byju’s has been navigating and expressed his gratitude for the dedication of the company’s employees.
“It won’t be much, but each one of you will receive a small payment by this weekend. This is not nearly what you deserve, but it is what I can offer right now. And I promise you this — the day we regain control of our company, you will get more than your fair share,” Raveendran said in the letter. As reported by Business Standard, he requested employees to remain dedicated to their roles and continue teaching at the firm.
“I owe you an apology. You have given your best, yet we have not been able to compensate you for your work. This is not right, and for that, I am truly sorry. The past three months have been a perfect storm of legal battles, financial uncertainties, and challenges none of us ever expected. But through it all, you have stood strong. You have upheld the highest calling of a teacher — to educate, to inspire, and to guide,” added Raveendran.
Raveendran also outlined the company’s plans to address the challenges and ensure its long-term sustainability. He assured employees that Byju’s remains committed to its mission of providing quality education to students worldwide and is taking proactive steps to strengthen its financial position and operations.
“Because we believe in this company, we believe in our mission, and most importantly, we believe in you. We know that Byju’s is not just a business model. We serve millions of students across the country, and we do that through the tireless efforts of thousands of teachers like you,” said Raveendran.
He also claimed that US-based lenders have filed a weak case, making a claim on the company’s Indian assets. “But they have no entitlement to these assets, as per the agreement we signed with them. The so-called trust that represents them in India has no legal standing. It does not represent the majority of these lenders. Still, the reality is that I no longer control the company’s bank accounts. We are confident of winning this case, and while we wait, I understand the burden this places on you,” said Raveendran.
He stated that the legal battles are a personal challenge for him. “I know that, together, we will come out of this stronger than before. We cannot stop. We cannot even slow down. Because we have millions of students depending on us. They are the reason we keep going. They are the reason we fight these battles. And they are the reason we will win,” said Raveendran.